New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-08-11
WORK ON TIE IVES PUZZLE.
LITTLE PROGRESS MADE IN SOLVING IT.
Mr.. IVES RESIGNS AS PRESIDENT OF THE TERRE
HAUTE AND INDIANAPoLIs.

HAUTE AND INDIANAPoLIS
There was little progress made yesterday toward
satisfactory solution of the socaed Ives puzzle ne
committees which now inquirng about the ahairs
of the Cincinnati, Hamilton and Dayton Railroad, ana
espec ally the relations between the company ana its
New York fiscal agents made cursory examination oil
the accounts, but they did not derive, apparently
much satisfaction from their explorations 1t was
said, indeed that II would probably take week or
two to ascertain exactly the amoGnt which tho hr Oh
Henry s. Ives Co., in its official or other capacity,
mlghC owe the several companies recsnty under It's
control IL was learned that Mr. Ives had resigned
the presidency OF the rerre Hantc and lndianapohs
,road, the nucleus of the VandalIa line, and that
William r. McKeen had resumed tie office he had oc-
cuped tor many years. The change must have been
informal tor there ha. been meeting OF the directors
OF the yardala line III this city. IL is presumed that
when Mr. Ives aOiiclted from the Cincinnati, Hamil-
ton and Dayton management he surrendered also sew
eral other positions which he had occupied simply IN
conseq iencc OF his control OF that company IL was
said. however, that he and his partner, George IL.
Stayner hal forgotten in the confusou to resign the
executive office. of the Mineral Range Railroad,
short road in North Michigan, which the hrm con-
trolled. This NAV have been mere oversight which
perhaps will be corrected in short time
Henry S. Ives was smoking garette when RIB
Uyr reporter asked hm it there any news in his
atars The rcpoi ter offered his congratulations that
Mr. Ives was TO remove to Filth -dye., and IN
quired price hal been fixed oH the Broo kyn house
~
piled You ought to have been here little earlier
raere was great Gro yd of unsecured creditors here
clamorng their pay. They got it, dollar Tor dollar
and YOU the Office is clear now No, my house III
BROOKLYN is not ter 'ale at present nave resigned
simply the yIce-presidency OF the Cincinnati HaGh-
ton and DAYTON hnd the presidency OF the lerre haue
and Indianapolis. have NOT surrendered my interest
in either company. Tlere is nothing new to-day"
When asked If he had in the mnrnitg ( news
papers the story OF young mans deathfrom cigarette
smoking, MIR. Ives smngly replied cigarette
now and then relieves mc from headIeEe Dul a1n
not add cied TO the habit"
The creditors OF I've, & Co. are pursuing, II not
policy mastery activity. Que OF waiting Tor develop
nents said one Ct their representatives yesterday
. rhe position of affairs Las not been materially
ch inged. The committees OF the stoc Ahoiders and
ere lilor, have been ioowng up their Investigations
ne Inquiry is being conducted with deiberaton, TOR
there IN possibly be some chance Tor relie being
extended IN tue present complications Iha. II tho
talk and We only wish TO get back our money,
" e do not care TO take any action that would emDN
rass any syndicate combination that proposes TO
supply this reliet OF course the only relief would
come iron the raising of money 10 put the CINCINNATI,
uam on aud DAYTON It's ieet, hut there - nothing
definite done So lar ~ know. There has been "a
discussion OF provisional propositions but
tle.e are so vague that real progress has b en-
made. lhe creditors think that II some positive
arrangement was made step hy step there wouid nc
more stability in the prospects OF the negotiations
The creditors have made examination OF the
looks of Henry 5. Ives Il Co. u II bhs not been
thoroush enou sb to afford any satisfactory eompre-
chance Of our getting back our money we do not pro
pose to embarra.s either the stockholders or Ives ~
Co."
4 typical loan. which expected TO be closed at
pub c al ction the account OF Ives Co.. consstei
oil the follow ing securities
Two Thousand five hundred AMI eighty shares OF Gin
cnua Hamilton and DAYTON preferrod AMI lOJ shares
OF common stock, $50 900 Dayton and chicago hrst
mortgage bonds, $1,000 Cincnnltt Richnonl ana
Chicago per cent bonds $40 shares OF Terre Haul" hud
indianapolis stock. 200 shares OF Mineral Range STOCK
and 900 first mortgage bonds. Sil shares OF Ancf
Ruu M
Chemical National Bank stock and $4,000 United
States bonds.
1hs entire lot Withdrawn just as tne anctloneer
was about begin the sale. Ii understood that
the securities were collateral 10 loans made by IA
prominent trust company or foreign brokerage hrn,
but Wall Street gosspt were pleased to dissect the t
and make guesses to the original ownership. The
amount OF the loan was not known, nOr the reason
why the sale was Interrupted M
another hundred shares OF Cincinnati. Hamilton
aud DAYTON sold at the Stock Exchange yester
day. IL brought 30 against par on Tuesday aud 40
on the day before. IL e.ted By some persons
at average OF the three prices lar apart might
be the value oi the stock according to
the OF those VINO we're interested most deeply IN
the property. - 80 -
Robert Jarrett. Who holds IL. S0O00D preferred
stock tor an expired option for the control oi the
Baltimore and Ohio Railroad, il Europe. Before he
sailed he stated that he had idea VI surreniering
the stock
William H. Stsrbuck was bv tribune re-
DOR or. When asked with regard to the claims OF the
Ives rred tors that recovery could lie made OF the
Cncin 1ati, Hamilton Dayton stock held by him,
while he held "a t2age Mr.. lves's yacht, the
The NJ. StarbucK replied that he had nothing to
say. The creditors NIGH, claim what they pleased ;
he all right and proposed to stay so.